Thank you Chilli Down for stating this thread and thanks to...

Thank you Chilli Down for stating this thread and thanks to Hagetaka for the web address to the Gunns case which I have just read. Here are my findings:-

John Gay was the Director and Chairman of Gunns Ltd at the time of selling his shares in early December 2009.
The half yearly results were released to the market on 22nd February 2010, let's say 2 and a half months after selling his shares.

Gunns results were negative and their share price (SP) fell substantially.
ASIC investigated and referred the case to the CDPP. The Deputy Director of CDPP Mr. Shane Kirne said 'the proceeds settlement reflects the seriousness of the offending'.
John Gay was ordered to pay a $500,000.00 pecuniary penalty and also fined $50,000.00.

Now that, in my opinion, is justice!

Let's reflect on what Paul Flynn did:-

On 1st April 2021, WHC released an announcement to the market that Paul Flynn had sold 1,000,000 shares by 'on market trades' between 26th - 30th March 2021. The 26th March being a Friday and the last sale of shares 30th March being a Tuesday so in total, 3 trading days to complete.
The SP at close of trade on 25th March was $1.775 after 7.4M shares had traded.
The SP at close of trade on 26th March was $1.75 after 7.2M shares had traded. The first day Paul Flynn placed his sell notice of shares.
The SP at close of trade on 29th March was $1.765 after 5.0M shares had traded. $1.765 or $1.766355 was the price Paul Flynn received.
The SP at close of trade on 30th March was $1.710 after 10.4M shares had traded. An increase in share trading of just over 70% based on the average trades of the previous two trading days. Had the 'Market' gotten wind at this stage of who was selling? Who knows?

On 15th April:- 'Just 21 days, not 2 and a half months' after Paul Flynn decided he had to sell 1,000,000 shares 'predominantly' to fund tax liabilities (predominantly means the majority, 500'001 or more), the following was released to the market:-

Whitehaven Coal Provides Update on March 2021 Quarter Production Report and Revised FY 2021 Guidance

Comments from MD and CEO Paul Flynn:-
“Q3 FY21 has been a mixed bag from an
operational perspective and in having to address
a number of logistical challenges.

“Pleasingly we are seeing much improved and
more consistent performance from our largest
operation at Maules Creek, notwithstanding
adverse weather in recent weeks.

“Offsetting this progress to some extent has
been the geological challenges encountered at
the Narrabri Underground which has impacted
production.

“Coal prices have continued to improve over the
quarter, responding to increased economic
activity as well as supply constraints.

“Disappointingly, we have had to revise down
our FY21 production, sales and unit cost
guidance due to the ongoing geological
challenges at our underground mine, Narrabri.”

I have highlighted the paragraphs above from Paul Flynn's comments that are in question. When were these results known, prior to the 26th and 30th March or in Paul Flynn's defense, straight after as the information was being collated and report created?
If known, were these two paragraphs going to make a negative impact on the SP after being released to the market? The facts speak for themselves after we have all suffered the initial drop of 11.66% in the SP from the day the news was released and a 31.48% drop in the SP as it continued to drop days after the news release.

In summary:-

Am I happy about the above? Obviously I am livid, not because of the news but mostly because of Paul Flynn's actions prior to the release.

Do I believe Paul Flynn should be invested by ASIC? Where do you think the above report is heading apart from on Hot Copper?

Regards,
Peakabooau